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Coffee prices in Vietnam, the world’s biggest producer of the robusta variety, climbed to the highest level in almost seven months. Exports fell in April.
Beans from the Southeast Asian nation reached 42,000 dong ($2.02) a kilogram (2.2 pounds) yesterday, the highest price since Oct. 18, data from the Dak Lak Trade & Tourism Center show. Vietnamese coffee exports fell 19 percent to 168,228 metric tons in April from a month earlier, Vietnam’s General Customs Department said on its website today.
Farmers in Vietnam are unwilling to sell beans below 40,000 dong a kilogram and processors don’t want to pay more, Volcafe, the coffee unit of commodities trader ED&F Man Holdings Ltd., said in a report e-mailed May 11. Dak Lak is Vietnam’s biggest coffee-producing region.
Robusta coffee for July delivery was up 0.7 percent to $2,202 a ton by 10:25 a.m. on NYSE Liffe in London. The commodity has climbed 21 percent so far this year.
To contact the reporter on this story: Isis Almeida in London at Ialmeida3@bloomberg.net
To contact the editor responsible for this story: Claudia Carpenter at Ccarpenter2@bloomberg.net.